Redwood (Wales) Limited
Redwood (Wales) Limited
Registered number: 08050464
Unaudited Financial Statements
For The Year Ended 28 February 2024
James Khan
Redwood (Wales) Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Redwood (Wales) Limited
Balance Sheet
As At
28 February 2024
Balance Sheet
Registered number:
08050464
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2024 | 2023 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Stocks | 6 |
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| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 9 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 284 | 363 | |||
Redwood (Wales) Limited
Balance Sheet (continued)
As At
28 February 2024
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Redwood (Wales) Limited
Notes to the Financial Statements
For The Year Ended 28 February 2024
Notes to the Financial Statements
1.
General Information
Redwood (Wales) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08050464
. The registered office is 54 Felin Fach, Cardiff, CF14 1NZ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.
2.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised
evenly over its estimated useful life of five years.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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2.5.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
4.
Intangible Assets
| Goodwill | |||
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| £ | |||
| Cost | |||
| As at 1 March 2023 |
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| As at 28 February 2024 |
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| Amortisation | |||
| As at 1 March 2023 |
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| As at 28 February 2024 |
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Redwood (Wales) Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2024
5.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 March 2023 |
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| As at 28 February 2024 |
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| Depreciation | |||
| As at 1 March 2023 |
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| Provided during the period |
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| As at 28 February 2024 |
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| Net Book Value | |||
| As at 28 February 2024 |
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| As at 1 March 2023 |
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6.
Stocks
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Finished goods |
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.
7.
Debtors
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 12,597 | 11,115 | |
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| Due after more than one year | |||
| Other debtors | 4,251 | 3,751 | |
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8.
Creditors: Amounts Falling Due Within One Year
| 2024 | 2023 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Other creditors | 984 | 1,079 | |
| Taxation and social security |
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Redwood (Wales) Limited
Notes to the Financial Statements (continued)
For The Year Ended 28 February 2024
9.
Creditors: Amounts Falling Due After More Than One Year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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11.
Directors Advances, Credits and Guarantees
| As at 1 March 2023 | Amounts advanced | Amounts repaid | Amounts written off | As at 28 February 2024 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Mr Marc Chaplin |
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At the balance sheet date, the company was owed £12,597 from the director. Interest is being charged on this loan at HMRC approved rates.